IHS Chemical Week

Rockwood says Talison Lithium offer is final

11:41 AM MST | November 21, 2012

Rockwood today received its last necessary regulatory approval for its C$724-million ($730 million) acquisition of Talison Lithium (Perth, Australia) and said that it will not raise its C$6.50/share bid for the company. The final regulatory approval came from the Australian Foreign Investment Review Board, Rockwood says. Yesterday, Chinese industrial conglomerate Chengdu Tianqi Industry Group (Tianqi; Tianqi, China) submitted a C$7.15/share bid for Talison. Talison’s board says it is reviewing Tianqi’s offer. Rockwood says its offer, while lower, provides...

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